Sar Televentures has announced its acquisition of a 91% stake in Tikona Infinet Private Limited, a prominent wireless broadband provider in India, for a total consideration of ₹669.04 crores. The transaction includes a cash payout of ₹374.85 crores and a share swap worth ₹294.19 crores, as per the Securities Purchase Agreement (SPA) approved by Sar Televentures’ Board. The acquisition is expected to expand Sar Televentures’ digital and enterprise connectivity services, enhancing its position in India’s fast-growing broadband market.
Strategic Details
Tikona, founded in 2008 by Prakash Bajpai, has established itself as a major provider of high-speed internet and enterprise data solutions. Tikona’s diverse portfolio includes Multiprotocol Label Switching (MPLS), Virtual Private Networks (VPNs), and dedicated leased lines, which serve a range of sectors such as finance, IT, healthcare, education, and logistics.
For the fiscal year ending March 31, 2024, Tikona reported a turnover of ₹192.87 crores, underscoring its solid market presence and potential for future growth. Sar Televentures views this acquisition as an opportunity to leverage Tikona’s established networks and broaden its broadband service offerings to meet rising demand for connectivity across India.
Strategic Vision
The acquisition is in line with Sar Televentures’ goal of strengthening its broadband and digital service capabilities. By integrating Tikona’s offerings, Sar Televentures anticipates operational synergies that will reduce costs, boost service efficiency, and enhance client value through a more comprehensive suite of connectivity solutions. Tikona’s strong foothold in major Tier 1 and urban markets complements Sar Televentures’ existing digital infrastructure and adds new potential for growth in India’s competitive broadband sector.
The integration of Tikona’s high-speed internet and enterprise connectivity solutions is expected to support Sar Televentures’ long-term vision of becoming a top digital infrastructure provider in India. A Sar Televentures spokesperson said, “This acquisition is a pivotal step in our mission to deliver comprehensive, high-speed connectivity solutions nationwide. Tikona’s strengths in enterprise data services align perfectly with our goals for growth and excellence.”
The acquisition is set to close in the coming months, subject to regulatory approvals and fulfillment of SPA conditions.